USDCAD wedge pattern - short 1HR
Looking for one more push to the upside then price action and move towards 1.23.
On the daily we can see a break of previous low with more room to move lower.
After taking a loss on 30minute double top we now have the double top presenting itself on the 4hr chart.
RSI divergence and nice pin bar showing rejection of this area again.
Looking now for move to initial structure lows where 50% of position will be closed. Final 50% moved to risk free trade looking for extension down into 108.00 level.
After seeing strong rejection off the 1.42 handle now looking for price to retest a former level of daily structure. On the hourly we have seen a break of trendline so looking now to jump on the move down. If price was to break above current level (1. 40 ) then that opens the door to retest the 1.42 handle again
Overall still feel there is movement to the upside on this pair. Short term we can see a break of trendline so looking for shorter term downside.
4 hr chart still technically in a downtrend so this fits that trend.
Trend Continuation. 3rd wave down. Expecting test of 0.92 level for reverse and move to the upside now that price has broken structure on the daily.
Currently in kill-zone for move down. Technical Double Top with divergence on the RSI.
